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APAC Automotive Semiconductor Market Size, Segments,
Emerging Technologies and Market Growth by Forecast to 2030
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© Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved
The International Energy Agency (IEA) forecasts that the stock of battery electric vehicles
(BEVs) and plug-in hybrid electric vehicles (PHEVs) in China will reach 38,570,612 units
(cars) and 13,483,273 units (cars), respectively, by 2030. The IEA also predicts that the stock
of BEVs (cars) and PHEVs (cars) in India will reach 7,279,298 units and 941,381 units,
respectively, by 2030. The increasing sales of these vehicles will create a huge requirement
for automotive semiconductors in the Asia-Pacific (APAC) region in the coming years due to
their extensive use in electric vehicle (EV) batteries.
Moreover, the increasing integration of advanced mobility solutions, such as autonomous
driving technology, owing to the rising awareness about vehicle safety, will fuel the APAC
automotive semiconductor market growth in the foreseeable future. Autonomous driving
features, such as blind-spot detection (BDS), adaptive cruise control (ACC), automatic
parking system, glare-free high beam and pixel lights, automatic emergency braking system,
automotive night vision system, crosswind stabilizer, lane change assistance system, and
driver drowsiness detection system, work with the help of semiconductors.
Such advanced driver-assistance systems (ADAS) are being integrated into internal
combustion engine (ICE)-based vehicles and EVs to offer efficient driving options and meet
the extensive demand for improved passenger safety. Thus, the surging sales of ICE-powered
vehicles will also augment the need for semiconductors in APAC in the forthcoming years.
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